Buenaventura Announces Third Quarter 2024 Results for Production and Volume Sold per Metal

Business Wire10-17

LIMA, Peru, October 16, 2024--(BUSINESS WIRE)--Compañía de Minas Buenaventura S.A.A. ("Buenaventura" or "the Company") (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious...

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(\"Buenaventura\" or \"the Company\") (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious...</p>\n\n<a href=\"https://finance.yahoo.com/news/buenaventura-announces-third-quarter-2024-212900393.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buenaventura Announces Third Quarter 2024 Results for Production and Volume Sold per Metal</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuenaventura Announces Third Quarter 2024 Results for Production and Volume Sold per Metal\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-17 05:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/buenaventura-announces-third-quarter-2024-212900393.html><strong>Business Wire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>LIMA, Peru, October 16, 2024--(BUSINESS WIRE)--Compañía de Minas Buenaventura S.A.A. (\"Buenaventura\" or \"the Company\") (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious...</p>\n\n<a href=\"https://finance.yahoo.com/news/buenaventura-announces-third-quarter-2024-212900393.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BVN","symbol_name":"布埃纳文图拉开采","start_time":0,"source_url":"https://finance.yahoo.com/news/buenaventura-announces-third-quarter-2024-212900393.html","article_id":"2476977238","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/uk4KTFlT2Dv5nPKo_MZ8SQ--~B/aD01MTI7dz0xMDI0O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/business-wire.com/1c0d78aa7cf50314e912edd0eb07d8d6"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2476977238","pubTimestamp":1729114140,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"LIMA, Peru, October 16, 2024----Compaía de Minas Buenaventura S.A.A.  , Peru’s largest publicly-traded precious metals mining company, today announced 3Q24 results for production and volume sold.2024 projections are considered to be forward-looking statements and represent management’s good faith estimates or expectations of future production results as of October 2024.Considers 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal.Considers ore from the pilot stope approved within Yumpag EIA-sd.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BVN":"布埃纳文图拉开采","BK4017":"黄金"},"translate_title":"布埃纳文图拉公布2024年第三季度每种金属的产量和销量结果","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BVN":0.9},"content_text":"LIMA, Peru, October 16, 2024--(BUSINESS WIRE)--Compañía de Minas Buenaventura S.A.A. (\"Buenaventura\" or \"the Company\") (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, today announced 3Q24 results for production and volume sold.\nProduction per Metal\n\n\n\n\n\nThree Months Ended September 30, 2024\n\nNine Months Ended September 30, 2024\n\n2024 UpdatedGuidance (1)\n\n\n\n\n\n\n\n\n \n\n\nGold ounces produced\n\n\n\n\n\n\n\n\nEl Brocal\n\n6,673\n\n17,329\n\n19.0k - 22.0k\n\n\nOrcopampa\n\n17,831\n\n54,426\n\n70.0k - 75.0k\n\n\nTambomayo\n\n8,015\n\n26,072\n\n28.0k - 32.0k\n\n\nJulcani\n\n1,428\n\n2,839\n\n3.5k - 4.0k\n\n\nLa Zanja\n\n4,963\n\n8,655\n\n10.0k - 12.0k\n\n\nTotal Direct Operations (2)\n\n38,909\n\n109,321\n\n130.5k - 145.0k\n\n\nCoimolache\n\n8,368\n\n38,554\n\n41.0k - 46.0k\n\n\nTotal incl. Associated (3)\n\n39,690\n\n118,095\n\n139.6k - 155.0k\n\n\n\n\n\n\n\n\n\n\n\nSilver ounces produced\n\n\n\n\n\n\n\n\nEl Brocal\n\n516,480\n\n1,701,940\n\n1.8M - 2.0M\n\n\nUchucchacua\n\n608,412\n\n1,524,944\n\n2.2M - 2.5M\n\n\nYumpag (4)\n\n2,591,227\n\n6,017,839\n\n7.5M - 8.0M\n\n\nOrcopampa\n\n6,891\n\n22,857\n\n-\n\n\nTambomayo\n\n434,054\n\n1,143,490\n\n1.7M - 1.9M\n\n\nJulcani\n\n261,492\n\n1,090,232\n\n1.5M - 1.7M\n\n\nLa Zanja\n\n8,901\n\n14,904\n\n-\n\n\nTotal Direct Operations (2)\n\n4,427,457\n\n11,516,207\n\n14.7M - 16.1M\n\n\nCoimolache\n\n38,705\n\n178,341\n\n0.1M - 0.2M\n\n\nTotal incl. Associated (3)\n\n4,243,769\n\n10,931,273\n\n14.0M - 15.4M\n\n\n\n\n\n\n\n\n\n\n\nLead metric tons produced\n\n\n\n\n\n\n\n\nUchucchacua\n\n3,865\n\n10,812\n\n13.0k - 15.0k\n\n\nTambomayo\n\n979\n\n3,093\n\n3.5k - 4.0k\n\n\nJulcani\n\n108\n\n619\n\n0.9k - 1.0k\n\n\nTotal Direct Operations (2)\n\n4,953\n\n14,523\n\n17.4k - 20.0k\n\n\n\n\n\n\n\n\n\n\n\nZinc metric tons produced\n\n\n\n\n\n\n\n\nEl Brocal\n\n0\n\n1,985\n\n1.9k - 2.0k\n\n\nUchucchacua\n\n6,153\n\n16,521\n\n19.0k - 22.0k\n\n\nTambomayo\n\n1,222\n\n4,034\n\n5.4k - 5.8k\n\n\nTotal Direct Operations (2)\n\n7,374\n\n22,540\n\n26.3k - 29.8k\n\n\n\n\n\n\n\n\n\n\n\nCopper metric tons produced\n\n\n\n\n\n\n\n\nEl Brocal\n\n16,769\n\n42,334\n\n55.0k - 60.0k\n\n\nTotal Direct Operations (2)\n\n16,769\n\n42,334\n\n55.0k - 60.0k\n\n\n\n\n2024 projections are considered to be forward-looking statements and represent management’s good faith estimates or expectations of future production results as of October 2024.\nConsiders 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal.\nConsiders 100% of Buenaventura’s operating units, 100% of La Zanja, 61.43% of El Brocal and 40.094% of Coimolache.\nConsiders ore from the pilot stope approved within Yumpag EIA-sd.\n\nVolume Sold per Metal\n\n\n\n\n\nThree Months Ended September 30, 2024\n\nNine Months Ended September 30, 2024\n\n\n\n\n\n\n \n\n\nGold ounces sold\n\n\n\n\n\n\nEl Brocal\n\n3,912\n\n10,676\n\n\nOrcopampa\n\n18,027\n\n54,223\n\n\nTambomayo\n\n7,438\n\n24,199\n\n\nJulcani\n\n1,293\n\n2,527\n\n\nLa Zanja\n\n4,676\n\n8,525\n\n\nTotal Direct Operations (1)\n\n35,345\n\n100,151\n\n\nCoimolache\n\n8,450\n\n38,526\n\n\nTotal incl. Associated (2)\n\n37,225\n\n111,480\n\n\n\n\n\n\n\n\n\nSilver ounces sold\n\n\n\n\n\n\nEl Brocal\n\n413,407\n\n1,403,306\n\n\nUchucchacua\n\n555,012\n\n1,345,729\n\n\nYumpag (3)\n\n2,229,149\n\n5,785,760\n\n\nOrcopampa\n\n10,031\n\n22,174\n\n\nTambomayo\n\n402,631\n\n1,035,689\n\n\nJulcani\n\n248,442\n\n1,052,051\n\n\nLa Zanja\n\n16,450\n\n32,140\n\n\nTotal Direct Operations (1)\n\n3,875,123\n\n10,676,849\n\n\nCoimolache\n\n38,748\n\n177,393\n\n\nTotal incl. Associated (2)\n\n3,731,208\n\n10,206,718\n\n\n\n\n\n\n\n\n\nLead metric tons sold\n\n\n\n\n\n\nEl Brocal\n\n0\n\n72\n\n\nUchucchacua\n\n3,489\n\n9,752\n\n\nYumpag (3)\n\n21\n\n55\n\n\nTambomayo\n\n849\n\n2,692\n\n\nJulcani\n\n96\n\n557\n\n\nTotal Direct Operations (1)\n\n4,455\n\n13,129\n\n\n\n\n\n\n\n\n\nZinc metric tons sold\n\n\n\n\n\n\nEl Brocal\n\n0\n\n1,592\n\n\nUchucchacua\n\n5,026\n\n13,593\n\n\nTambomayo\n\n969\n\n3,231\n\n\nTotal Direct Operations (1)\n\n5,995\n\n18,417\n\n\n\n\n\n\n\n\n\nCopper metric tons sold\n\n\n\n\n\n\nEl Brocal\n\n15,571\n\n39,709\n\n\nTambomayo\n\n32\n\n95\n\n\nJulcani\n\n20\n\n79\n\n\nTotal Direct Operations (1)\n\n15,622\n\n39,883\n\n\n\n\nConsiders 100% of Buenaventura’s operating units, 100% of La Zanja and 100% of El Brocal.\nConsiders 100% of Buenaventura’s operating units, 100% of La Zanja, 61.43% of El Brocal and 40.094% of Coimolache.\nConsiders ore from the pilot stope approved within Yumpag EIA-sd.\n\nAverage realized prices(1)(2)\n\n\n\n\n\nThree Months Ended September 30, 2024\n\nNine Months Ended September 30, 2024\n\nYear Ended December 31, 2023\n\n\n\n\n\n\n\n\n \n\n\nGold (US$/Oz)\n\n2,514\n\n2,323\n\n1,954\n\n\nSilver (US$/Oz)\n\n29.92\n\n28.14\n\n23.98\n\n\nLead (US$/MT)\n\n2,082\n\n2,078\n\n2,093\n\n\nZinc (US$/MT)\n\n2,883\n\n2,618\n\n2,315\n\n\nCopper (US$/MT)\n\n9,391\n\n9,124\n\n8,418\n\n\n\n\nConsiders Buenaventura consolidated figures.\nRealized prices include both provisional sales and final adjustments for price changes.\n\nCommentary on Operations\nTambomayo:\n\nGold, lead and zinc production was in line with expectations. 2024 guidance remains unchanged.\nSilver production was below 3Q24 projections due to delays related to mine development and in the preparation of high silver grade ore stopes. 2024 remains unchanged.\n\nOrcopampa:\n\n3Q24 gold and silver production was in line with expectations. 2024 guidance remains unchanged.\n\nCoimolache:\n\nGold production exceeded 3Q24 projections due to an accelerated percolation rate at the leach pad. 2024 guidance has therefore been updated.\nDuring the 3Q24, Buenaventura filed for a leach pad expansion construction permit at Coimolache, which is currently pending with the Ministry of Energy and Mines. Approval is expected by the end of 1Q25, enabling the Company to begin construction in 2Q25 and to resume leaching fresh ore in 3Q25.\n\nJulcani:\n\nGold and copper production at the Julcani mine is gradually increasing as the operation transitions to zones richer in these metals, successfully offsetting lower production from the Achilla zone which has historically produced lead and silver.\n2024 guidance has therefore been revised to reflect increased gold production with lower silver grades.\n\nUchucchacua:\n\nSilver and lead production was in line with expectations for 3Q24. 2024 guidance remains unchanged.\nZinc production exceeded expectations due to higher grades than was previously projected. 2024 guidance has therefore been updated.\nUchucchacua achieved 1,500 TPD average daily throughput in 3Q24, aligned with the Company’s targeted 1,500 TPD by year end 2024.\n\nYumpag:\n\nSilver production was in line with expectations for 3Q24. 2024 guidance remains unchanged.\n\nEl Brocal:\n\nCopper production was in line with expectations for 3Q24. 2024 guidance remains unchanged.\nGold and silver production exceeded expectations for 3Q24 due to increased volume processed during the quarter. 2024 guidance has therefore been updated.\nAll ore stockpiled in 2Q24 was processed during the 3Q24, enabling El Brocal to meet its targeted production for the first nine months of 2024. The average mining rate during 3Q24 was 12,000 tons per day, and the average mining rate for the first nine months of the year was 11,000 tons per day, aligned with the Company’s target for full year production to exceed 11,000 tons per day.\n\nCompany Description\nCompañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly traded precious and base metals Company and a major holder of mining rights in Peru. The Company is engaged in the exploration, mining development, processing and trade of gold, silver and other base metals via wholly-owned mines and through its participation in joint venture projects. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Julcani*, Tambomayo*, La Zanja*, El Brocal and Coimolache).\nThe Company owns 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer (a partnership with Freeport-McMorRan Inc. and Sumitomo Corporation).\n(*) Operations wholly owned by Buenaventura.\nNote on Forward-Looking Statements\nThis press release may contain forward-looking information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including those concerning Cerro Verde’s costs and expenses, results of exploration, the continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future explorations, development and production, subsidiaries’ plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Company’s view with respect to Cerro Verde’s future financial performance. Actual results could differ materially from those projected in the forward-looking statements as a result of a variety of factors discussed elsewhere in this Press Release.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241016331347/en/\nContacts\nContacts in Lima: Daniel Dominguez, Chief Financial Officer +51 1 419 2540\nGabriel Salas, Head of Investor Relations +51 1 419 2591gabriel.salas@buenaventura.pe\nContact in New York: Barbara Cano, InspIR Group +1 646 452 2334barbara@inspirgroup.com\nWebsite: www.buenaventura.com","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2476977238"}